NEW DELHI: Packed snacks and food chainBikanervala will invest up to Rs 250 crore over three years to open more restaurants and increasing production capacity.
"We are expanding very fast and we will invest up to Rs 250 crore by 2015-15 to increase our production capacity and to open our restaurants," Bikanervala Foods Pvt Ltd CEO Suresh Goel told PTI.
The company will invest up to Rs 150 crore in adding 60 new restaurants spread across the country. It already has 40 restaurants in India, spread across north India and Ahmedabad and Hyderabad.
The rest, Rs 100 crore, will be utilised in ramping up production capacity at a plant in Haryana. It will also set up a new plant that is expected to come up in Greater Noida.
Goel said, "Now we plan to open our restaurants in other parts of the country. Currently, we are mostly operating in north India. New restaurants will be mix of company owned and franchised outlets. Every year we will add 10-12 new restaurants."
The company is targeting up to 30 per cent growth in the turnover of its packed food division and up to 15 per cent growth in restaurant turnover.
In FY'13, the turnover from packed food was Rs 500 crore, while restaurants contributed Rs 100 crore.
"We are growing steadily. We expect about 25-30 per cent growth in packed food business and about 15 per cent growth in in restaurant business," Goel added.
Bikanervala is also looking at ramping up export earnings to 25 per cent of the total sales by FY'16. At present, exports account for about 15 per cent of overall sales.
The company is also looking at new export markets, such as the neighbouring as well as South East Asian countries. It exports its packed foods to 70 countries.
Bikanervala is also upbeat about upcoming festive season. It is targeting up to 40 per cent of its annual turnover from the festive season sales. It is coming out with 17 'Diwali' gift packs ranging from Rs 120 to Rs 670.